Industrial Gases Market Growth & Trends

The global industrial gases market size is expected to reach USD 173.43 billion by 2030, registering a CAGR of 7.42% during the forecast period, according to a new report by Grand View Research, Inc. Industrial gas is a significant segment of the economic progress of any region. The region-wise market for these gases is expected to grow at a rate that is double the GDP rate. With the erudition of the world economy, the utilization of nitrogen has increased faster than that of oxygen. Argon, however, has picked up the market pace and can be expected to supersede oxygen in terms of utilities. Despite this, some countries, such as India, are still operating in the oxygen era.

With sophistication in the industrial sector, growth during the forecast period is expected to emerge from argon and nitrogen. With the diminution of fossil fuel resources, hydrogen might gain importance as a source of energy. The implementation of oxygen for environmental protection and energy conservation and the use of nitrogen gas in the food and packaging industry remains an instantaneous opportunity in the market. Using hydrogen for the desulphurization process of sour crude is anticipated to fuel demand for industrial gases. Simultaneously, LNG, shale gas CNG and LCNG could hold prospects for growth in the industry. Thus, the industry is expected to grow substantially through the use of conventional and unconventional applications.

Gather more insights about the market drivers, restrains and growth of the Global Industrial Gases Market

Another major factor fostering industry growth is the rising healthcare industry. Utilization of improved medical technologies and increasing government expenditure on the healthcare industry is accelerating the applicability rate of industrial gases in various medical devices, such as Magnetic Resonance Imaging (MRI), Nuclear Magnetic Resource Imaging (NMRI), and ophthalmology. There are reputable local and international players in the global market. Some of these players have a lengthy history on the market. Due to the intense competition, the majority of players are concentrating on how to set themselves apart from the competition. For product manufacturers, creating extremely effective sales channels is yet another crucial element.

Industrial Gases Market Report Highlights

• Asia Pacific led the industry in 2022 owing to the growing electronics and healthcare industries in the region
• The nitrogen product segment is estimated to register the highest growth rate from 2023 to 2030
• This is owing to the increasing demand for nitrogen in the manufacturing of electronic products and devices
• Over the next few years, the industry growth is anticipated to be driven by the high dependency of the healthcare and electronics sectors on industrial gases for technology advancements

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Industrial Gases Market Segmentation

Grand View Research has segmented the global industrial gases market based on product, application, distribution, and region:

Industrial Gases Product Outlook (Volume, Million SCF; Revenue, USD Million, 2018 - 2030)

• Nitrogen
• Hydrogen
• Carbon Dioxide
• Oxygen
• Argon
• Acetylene

Industrial Gases Application Outlook (Volume, Million SCF; Revenue, USD Million, 2018 - 2030)

• Healthcare
• Manufacturing
• Metallurgy & Glass
• Food & Beverages
• Retail
• Chemicals & Energy
• Others

Industrial Gases Distribution Outlook (Volume, Million SCF; Revenue, USD Million, 2018 - 2030)

• On-site
• Bulk (Liquid Gas Transport)
• Cylinder (Merchant)

Industrial Gases Regional Outlook (Volume, Million SCF; Revenue, USD Million, 2018 - 2030)

• North America
• U.S.
• Canada
• Mexico
• Europe
• U.K.
• Germany
• France
• Italy
• Spain
• The Netherlands
• Asia Pacific
• China
• India
• Japan
• South Korea
• Australia
• Malaysia
• Thailand
• Singapore
• Latin America
• Brazil
• Middle East & Africa
• Saudi Arabia
• UAE

Order a free sample PDF of the Industrial Gases Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.

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